May 19, 2024


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Resonance is a new $150 million VC fund based in Paris • TechCrunch

Resonance is a new $150 million VC fund based in Paris • TechCrunch

There’s a new VC fund in town — at least if you live in Paris. Meet Resonance, a new $150 million fund (€150 million) backed 100% by Otium Money.

You may perhaps currently be common with Otium Capital. It is Pierre-Edouard Stérin’s loved ones place of work. Again in 2003, Stérin co-started Smartbox Group, the business at the rear of quite a few popular experience reward bins. He still owns Smartbox Team these days and has a lot of revenue.

With Otium Capital, the family members business office has a wide investment decision technique from leveraged buy-outs to real estate — and it has carried out fairly a number of startup investments over the years.

Some previous investments incorporate PayFit and Owkin. But aspect of the venture group at Otium still left to build their personal fund in 2019 — Frst.

Resonance will come to be Otium Capital’s tech-focused VC fund heading forward. Maxime Le Dantec and Alban Oudin will be managing the fund’s working day-to-working day things to do.

Le Dantec was previously a Principal at Balderton Capital and worked on bargains with GitGuardian, Kili Technological know-how, Numeral and Request. As for Oudin, he used to be a Principal at XAnge and he was included with investments in Animaj, Vertuoza, Cajoo, Silvr, Be a part of Stories and Workmotion.

Resonance will focus on seed and Collection A investments ranging from €100,000 to €10 million. Though the group will be based in Paris, Resonance programs to make investments across Europe.

The staff insists that it does not want to spray and pray. In its place, it’ll concentration on a handful of investments for each 12 months so that it can provide the appropriate amount of support on several matters, this kind of as essential hires and upcoming fundraising initiatives.

That is the primary gain with getting a solitary backer. If there are some macro-financial difficulties, you really don’t have to deploy a lot of funds each individual yr mainly because your confined associates have outlined a limited lifetime cycle for your VC fund.

Resonance isn’t likely to focus on a unique tech vertical. Centered on the qualifications of the crew, it can devote in everything from enterprise computer software to fintech, net3, purchaser and application-as-a-support solutions for SMBs.